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Ex-UK lawmaker charged with cheating in election betting scandal
Legal Interview |
2025/04/10 11:42
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A former Conservative lawmaker and 14 others have been charged with cheating when placing bets on the timing of Britain’s general election last year, the Gambling Commission said Monday.
Craig Williams was one of several people who had been investigated for cashing in on insider knowledge on the date then-Prime Minister Rishi Sunak would call the election. Other members of the Conservative Party that controlled government at the time and a police officer were among those facing charges that carry a potential two-year prison term, if convicted.
It’s legal for politicians to wager on elections, but the investigation was about whether they used inside information to gain an unfair advantage. One of the popular bets at the time was to wager on the date the prime minister would call an election.
At the time, the conventional wisdom was that Sunak would call an election in the fall, but he surprised people in May when he set the election date for July 4th. The announcement was a disaster as Sunak was drenched in pouring rain outside his residence and word quickly spread that a handful of people with connections to the party had placed suspiciously timed bets.
The vote six weeks later ended up being a bloodbath for Conservatives, as the Labour Party, led by Prime Minister Keir Starmer, swept them out of office for the first time in 14 years.
Williams, who was Sunak’s parliamentary private secretary and running for reelection, had disclosed he placed a 100-pound ($131) bet on a July election days before the date had been announced.
“I committed an error of judgment, not an offense, and I want to reiterate my apology directly to you,” he said in a video posted on social media in June.
In the election, Williams lost his seat representing an area of Wales, finishing third.
Others facing charges included Russell George, a Conservative in the Welsh parliament, Nick Mason, a former chief data officer for the Tories and Thomas James, the director of the Welsh Conservatives.
Anthony Lee, a former Conservative campaign director, was also charged alongside his wife, Laura Saunders, who ran unsuccessfully for a seat in Parliament representing an area of southwest England.
George was suspended by the Conservative Party after news of the criminal case.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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